Prime Minister Mark Carney has halted trade negotiations with the United States and pledged matching tariff retaliation after a midnight deadline passed without agreement, triggering new 50 percent duties on Canadian exports.
Negotiations between Canadian and American officials failed to produce a trade agreement before Friday's midnight deadline, prompting Prime Minister Mark Carney to suspend further discussions and recall his negotiating team to Ottawa. The breakdown in talks resulted in the implementation of new 50 percent tariffs on billions of dollars worth of Canadian goods entering the United States, which took effect at 12:01 a.m.
In response to the American tariffs, Carney announced that Canada would pursue a dollar-for-dollar retaliatory approach, implementing matching tariff measures against US exports. The Prime Minister's decision to withdraw from active negotiations signals an escalation in trade tensions between the two neighboring countries.
The failed last-minute effort to reach a comprehensive trade deal represents a significant setback in bilateral commerce relations. Both nations now appear positioned for a prolonged tariff dispute, with each committing to proportional economic countermeasures.
